Tim DraperFounder and Managing Partne, Draper Associate · I back the ideas that look crazy first

🚀 Daba’s Journey: From Waitlist to Launch! 📈

18 Mar 2024 · 1 min

Watch on YouTube

0:48

Daba launched its consumer app three weeks ago with a 4,000-person waitlist. The company is gradually onboarding users while waiting for full banking regulation. New users can't trade immediately due to regulatory constraints.

So you've got 4,000 people on your waitlist. Correct. And that's a waitlist because you're not properly regulated yet.
Right. So, and we weren't live yet. So we launched 3 weeks ago on the App Store. So our consumer application is now available, and we are now slowly onboarding people from that waitlist onto our application.
Once they're on, are they allowed to trade, or do you have to wait for some regulatory authority to allow you to be a bank?
I think he understood very rapidly, kind of like, the opportunity we're going after. But unfortunately, it's not easy to describe how everything fits together in 3 minutes.